Heritage Hills, Sherwood Park - August 2026 Real Estate Report

Heritage Hills, Sherwood Park: Your Neighbour Just Got a Better Price Than You Think

If you own a home in Heritage Hills and you're still looking at your city assessment to figure out what your place is worth, you're working with old information. Here's what's actually happening on the ground right now.

The Vibe: What the Market Is Doing

Let's split this into houses and condos, because they're telling two different stories right now.

Houses in Heritage Hills

The average sale price for a house sits at $660,000 this month, which is down 5.2% from last month. That sounds like a headline, but here's the context: the one house that sold this month went for 105.6% of its list price. Buyers are still competing when the right home shows up. Properties are moving in an average of 8 days. That is fast - ranking 4th out of 26 neighbourhoods in Sherwood Park for speed.

• Average HonestDoor Price: $714,762 (up 1.92%)
• Average sale price this month: $660,000
• Average list price this month: $625,000
• Price per square foot: $345
• Sold-to-list ratio: 105.6% - buyers paid over asking
• Average days on market: 8
• Predicted market value: $701,305
• Rental yield: 5.24%
• Estimated monthly rent: $3,298
• Neighbourhood growth rank: 43 out of 54 in Sherwood Park
• Price rank: 4 out of 32 - among the most expensive in Sherwood Park
• Days-on-market rank: 4 out of 26 - very fast-selling

The growth rank of 43 out of 54 tells us the price appreciation story is softer than some other Sherwood Park neighbourhoods right now. The market is taking a breather. But being ranked 4th most expensive out of 32 neighbourhoods means we're still sitting at the premium end of the Sherwood Park leaderboard. That's not nothing.

Condos in Heritage Hills

Condos here are a different story - and honestly a more interesting one. The average HonestDoor Price for a condo is $682,975, up 5.21%. That's a meaningful jump. The predicted market value is $649,150, and the 3-month moving average is $667,708, so values have dipped slightly in the short term. But the recent growth rate of 2.57% ranks 16th out of 37 comparable neighbourhoods - putting Heritage Hills condos solidly above average in Sherwood Park right now.

• Average HonestDoor Price: $682,975 (up 5.21%)
• Predicted market value: $649,150
• 3-month moving average: $667,708
• Estimated monthly rent: $2,940
• Rental yield: 3.60%
• Recent value change: +2.57%
• Growth rank: 16 out of 37 - above average in Sherwood Park
• Airbnb rank in Sherwood Park: 15th

Compare that to nearby Lakeland Greens condos at $263,081 or Clarkdale Meadows at $417,765 - Heritage Hills condos are in a completely different price tier. If you own one, you're sitting on a premium asset in this market.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment

Here's the thing about your city assessment - it's a snapshot from months ago, built on formulas that don't know your renovated kitchen or your quiet cul-de-sac location. The HonestDoor Price is updated in real time using actual transaction data. Right now, that gap matters.

For houses, the HonestDoor Price of $714,762 is sitting above the current average sale price of $660,000. That tells you the market has softened slightly in recent weeks, but the underlying value of Heritage Hills homes hasn't collapsed. Your city assessment won't show you that nuance. HonestDoor does.

For condo owners, a 5.21% increase in the HonestDoor Price is a real-world signal that demand for this property type in this neighbourhood is holding up. If you're waiting for your next annual assessment to find that out, you're already behind.

So What? - If You're Thinking About Selling This Summer

Here's the straight talk for anyone considering listing in Heritage Hills this summer.

On the house side, the market is cooling slightly - prices are down month-over-month and the growth rank is in the lower half of Sherwood Park neighbourhoods. But homes are still selling in 8 days and buyers are paying over asking when the listing is priced right. The window is open, but pricing strategy matters more than it did six months ago. List too high and you'll sit. Price it sharp and you'll likely see competition.

On the condo side, the momentum is actually better right now. A 5.21% HonestDoor Price increase and an above-average growth rank suggest demand is real. If you've been on the fence, this summer could be a solid time to move.

Either way, the first step is knowing your actual number - not the one on your tax notice. Check your HonestDoor Price, compare it to what's selling nearby, and you'll walk into any conversation with an agent knowing exactly where you stand.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.